Bank of East Asia, the Hong Kong-based bank, has opened a new branch for its BEA China arm at Ningbo, Zhejiang Province.

Ningbo is considered a major trade centre, with the Ningbo Port holding the distinction as one of the largest and busiest ports in Mainland China. BEA China currently operates one the largest foreign bank networks in the Yangtze River Delta region.

The new Ningbo branch will provide both RMD and foreign currency banking services to all clients, the firm said in a statement. Some of the services offered include account and deposits, loans, remittance and settlement, derivatives and overseas investment services for local residents and enterprises.

BEA China is headquartered in Shanghai. Its network of 110 outlets includes 25 branches and 84 sub-branches in 33 cities nationwide.